Humber/Ontario Real Estate Course 1 Exam Practice

What is the condition under which a brokerage can claim to be the #1 brokerage in MLS® sales for a specific market area?

1. The brokerage will need to secure permission from clients who bought properties.

2. The brokerage must ensure the advertisement is backed by a yearlong verifiable record.

3. The brokerage can claim this status if the ad references how the claim was achieved.

4. The brokerage needs no supporting information if the office has backup data available.

5. The brokerage should avoid making trading-related claims in ads altogether.

6. The brokerage must include detailed transaction histories in the claim.

The correct answer is: The brokerage needs no supporting information if the office has backup data available.

In real estate marketing, particularly regarding claims about sales performance such as being the "#1 brokerage in MLS® sales," there are specific standards that must be adhered to in order to make such claims ethically and legally. The correct answer indicates that a brokerage may make a claim based on backup data that is accessible, which aligns with industry standards for transparency. Brokerages are expected to substantiate their claims with verifiable data that supports the assertion of being the top performer in a specific market area. This means having comprehensive records of transactions readily available, which lends credibility to the claim. If this backup data is accessible, the brokerage can confidently market itself as the top performer without needing to include extensive, detailed transaction histories in every advertisement, as this could be cumbersome and unnecessary. This approach encourages brokerages to maintain accurate and comprehensive records of their transactions while allowing them the flexibility to advertise their success in a straightforward manner. Therefore, the ability to reference backup data is crucial for ethical advertising practices, ensuring that statements made are both accurate and defensible.